| Index | Close | % Change |
|---|
| Dow | 34749.56 | 0.78 |
| Dow Transports | 16496.44 | -0.52 |
| Dow Utilities | 983 | -0.79 |
| S&P 500 | 4463.08 | 1.17 |
| Nasdaq | 13893.84 | 2.05 |
| Nasdaq 100 | 14420.08 | 2.14 |
| Russel 2000 | 2084.32 | 0.93 |
| VIX Index | 24.12 | -6.04 |
| 10 Year Gov't Yield | 2.15 | -1.22 |
| Spot Gold | 1919.5 | -1.2 |
| Spot Silver | 24.91 | -1.86 |
| GDX-Gold Miners | 37.24 | -1.22 |
| Crude Oil | 104.58 | 1.55 |
| Dollar Index | 98.19 | 0.22 |
| Euro Spot | 1.11 | -0.34 |
| Japanese 10 Year | 0.21 | 0 |
| Shanghai SE | 3251.07 | 1.12 |
| Long Bond 20-year | 152.53 | 0.72 |
|
Option Expiration Controls the Day
03-18-2022In the wake of this morning's large option expiration (not to be confused with the one on the close), the market was a little higher through midday, with the Nasdaq gaining about 0.5%. In the afternoon, the Nasdaq powered higher still, gaining over 2% while the Dow/S&P added about half that.
Away from stocks, green paper stronger, as was fixed income, while the metals were lower, led by silver, which fell 2% compared to a 1% decline for gold. (I have no idea why the metals were so weak.) The miners were mostly mixed with small changes.
It Already Knows How to Fetch
I think the market action in the next week or two is going to be much more important than usual as we find out whether the current rally has legs or it's ready to roll over.